loan officer training: How to Compete in the Short Sale Market - 10/06/10 02:45 AM
For any homeowner who is looking to sell his or her home in this current market, then they already know how difficult that challenge can be. With property values having plunged in the past couple of years, it can be troublesome to consider letting go of the investment made. It is also sometimes painful to consider what might have been if they had sold at an earlier date, or what could be if they could only hold on for a little while longer.
But if the homeowner is ready to sell now, then there's a good reason and they most likely … (0 comments)

loan officer training: Are Your Clients Ready to Buy a Home? - 09/30/10 04:22 AM
When people have the approval in their possession, the approval for a home loan, common sense and practicality can often slip right out the window. Some people hold their collective breath waiting for word, others wonder what they will be approved for, and still others wonder about the rates, points, and other factors related to mortgages. Even though someone has been approved for a loan, it doesn't always mean that they are ready to buy a home.
Why you should be looking out for your client's best interest
We are in the business of making money. Selling homes, finding loans, and … (0 comments)

loan officer training: 3 Ways For Loan Officers to Be a Real Estate Agent Magnet For Referral Business - 04/12/10 03:14 AM

 
 
 
 
If you're a mortgage loan officer scrambling for business, you may already know that your efforts are better spent on landing referral sources (i.e., real estate agents) that are a pool of repeat business for you rather than targeting individual borrowers offering business here and there. The problem you're probably facing is the "how" of creating and building relationships with real estate agents as a source of repeat business.
Use these three tips consistently to build and solidify your relationships with real estate agents and you'll see a major boost in your bottom line.
Use Open … (0 comments)

loan officer training: Requirements for SAFE Act Compliance by MLOs - 03/18/10 11:21 PM
The Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (called the SAFE Mortgage Licensing Act of 2008) requires state-licensed mortgage loan originators (MLOs) to fulfill a set of state and federal licensing requirements with the Nationwide Mortgage Licensing System (NMLS). The goal is to reduce fraud, protect consumers, and ensure the public welfare.
In addition to other requirements, all MLOs need to file a Form MU4 through NMLS with the their state's Division of Banking. All MLOs must pass the SAFE Mortgage Loan Originator Test, which is comprised of two components: a state component and a national component. MLOs … (0 comments)